This is FREE Money from the Government. This is not a loan. The Employee Retention Credit is for businesses that retained employees through the pandemic. If you own a business and kept it running through the pandemic and paid those employees you may be eligible for ERC Money.

You can get up to $26,000 per employee.

This is only available for a short time.

They are giving $$$$ for the years of 2020 and 2021.

There is no limit on funding.

This was established by the CARES Act. It is a refundable tax credit. It is a grant, not a loan. It is available for small and mid sized businesses. It is based on qualified wages and healthcare paid to employees.

Qualification details include:

A full or partial shutdown during the pandemic. This includes change of travel, workload changes and inability to conduct meetings.

Gross receipt reduction (50% change 2019 vs 2020) (20% 2019 vs 2021)

You can be eligible for one quarter and not another.

Initially business could only get the PPP program. Paycheck Protection Program. In 2021 new legistration is now offering for a short time the ERC money as well.

Even if your accountant who is probably not a specialist in Government recovery money got you the ERC money…you can still have it reviewed by an expert to see if you can get more.

Bounteous has a partner who is an EXPERT in retrieving government money since 2008. This is what they do every single day. The work with fortune 1000 companies.

Get your ERC MONEY Now before it’s no longer available!

Email us today!

Merchant Cash Advance (MCA)

What: A Merchant Cash Advance or MCA is a way to sell your future credit card sales in
exchange for money now. For example a company that consistently gets 20k in credit card
transactions each month can get a MCA for 25%-100% of their monthly sales upfront. So a 15k
MCA which can be paid over a generally short period of time.

Why: Great option for a business that needs cash immediately. Get funded as soon as the same
day. Very easy requirements. Little to no paperwork.

Who’s Eligible: Must have been in business for a minimum of 3 months. No major unsatisfied
credit judgements

Who is not: Restricted or generally risky industries.
Startups, adult industries, airlines, regional airline companies.
Auto dealerships, used car dealers, bitcoin companies, bus companies, churches.
collection agencies, check cashing companies, bail bond companies, debt consolidation
companies.

Documents Needed: 3 Months of Bank Statements (All Pages), Completed application.

SBA Loans from most banks take 6 weeks for just an answer! We are able to turn in 5 short days!

Here are the parameters…

Loan amount $5,000 to $675,000

Typical average size is $90,000

Terms are 12-24 months

Collateral is NOT required

Streamlined underwriting and all is signed electronically

Repayment is not tied to credit card transactions (payments are ACH)

Payments collected weekly

Interest paid is tax deductable

Early payoff options are available

The type of business that is preferred is a brick and mortar business however exceptions have been made depending on the situations. We do prefer you have been in business for at least 12 months. We also prefer sales of $100,000 per year. Min credit score of 551. We use Equifax to check credit. We can consolidate cash advances up to 2. If there is more then we probably will not approve. One legal entity up to $450,000. 2 legal entities up to $675,000. This is done without a full tax report spread. Amounts above this will require a full spread.

This a rare SBA Loan. The rates are lower than lines of credit. If you are a business that needs money for a longer period of time at a lower rate then this is the way to go!

What do you do next?

Email admin@bounteouscapital.com with your contact information. We will email an application.

See you soon!

According to an article from the Chamber of Commence 90% of Small Business owners are concerned with inflation and how it influences their business. 50% say that the Biggest Challenge Businesses are facing is inflation.

See the full article here.

How does inflation hurt small businesses?

1. Inventory costs rise
2. Salaries will have to rise to keep employees
3. Prices for customers will have to rise
4. Rents will rise

This is just to name a few. All of their expenses will go up and that could make them lose customers depending on the product or service they deliver. If Business Owners can’t afford to raise salaries to match inflation then they could lose key employees that are essential to their business. Most workers are complaining of that right now. Regular hard working people are running out of money to buy the things they need not including any extra things they may want.

We can’t exactly stop inflation. The only thing Business Owners can do is adjust their business to the rate of inflation, cut costs and increase sales. Some of the things they can try to cut costs on without major change are below.

1. Employees- Change to virtual assistants if possible for certain duties
2. Software Costs- Get a lower cost software system or get software to help your business run smoother
3. Automate- Automation helps your sales and administrative departments costs
4. Insurance- Shop around for lower insurance rates

This is a just few to think about that can be done easily and quickly without major changes. 1 through 3 Bounteous may be able to help you with. Just email us with your concerns and we can set up a free consultation.

Everyone must learn to live in the new economy and that means a bit of adjustment. Those small changes can be enough to keep your business sailing through. No matter what people still need to by products and services even when prices go up. Even during a pandemic people were buying. Don’t get discouraged. Just get moving toward what you need to do. We are here to help!

1. Money

The main issue small business owners face is money. If you read our post about Bank Loans for Small Businesses you would know 3 things. First it is very hard during a recession to get money from a bank. Second, the Banks only lend to businesses that don’t really need money. Third, even if they take an application for a small business loan it will take 6 weeks to get a response and that response could be and most likely will be NO.

Money to keep going during the recession can be gotten from private lenders much easier than from a bank. The application is just one page. Most private loans care more about your business income then your credit. Usually you get you money in 1-3 days.

Money for small business owners when they need it does many things. Money will keep the lights on. Money will pay employees. Money will buy inventory. Money will keep systems running. This usually is all that is needed to survive a 10 month recession. Ten months is the average length of a rescession.

2. Better Serving Customers

While other small business owners heads are spinning you could be thriving! How? Give your customers what they want and do it well. If you have some basic things in place to surprise and delight your customers with great service then they will be back for more and they will tell their friends.

What are we talking about?

1. Proper software to keep organized and automate processes
2. Text set up to keep in contact with your customers
3. Email auto response system for receipts and communication
4. Great credit card process and processing company
5. Virtual Assistants- Can help run you administrative duties for very little money

This is a few ideas to keep your customers very happy and your business on their minds.

Here’s an example. My dermatologist office has several of these in place and here is the experience from my point of view as a customer. I usually make an appointment while I’m there in the office for my next visit. As soon as I do I get a confirmation email of my appointment. I also get a thank you for choosing them as my dermatologist. Then in the few months till I go, I will get emails from them talking about other services that they provide and asking for a review of my last visit. About 2 weeks prior to my appointment I get a text and email reminder asking for my confirmation response. Even if I respond yes I still get 3 more reminders before that scheduled appointment. This is a great example of how automation makes a customer happy.

These services Bounteous can help you obtain for less cash than you think. These services do not cost an arm and a leg as you would think they do. Because my dermatologist is so Awesome I tell people about them all the time and I guarantee they have gotten more customers because I have spread the word. The same would happen for your business.

So you can see how just these 2 things will keep you business going during a recession and probably even help it to thrive!

37% of Businesses in November of 2022 could not pay their monthly expenses! This is a problem. Can you guess why Business Owners are in this position?

Business does not have enough sales? Nope

Business is run poorly? Nope

There are a ton of these questions that could be answered with Nope! What is the reason? Some of these could be the reasons which are very common in business.

1. Owner is waiting for customers to pay 90 day invoices.
2. Owner needed to hire extra employees for the season before the sales came in.
3. Inventory prices went up and inventory must be bought before sales are made.
4. A recent renovation took place that used up more capital then expected.

Can you imagine more reasons a business might be short on Money?

This is all normal business practices and these can happen to any business. This does not mean the business is going out of business. It just means they need a little capital to keep going.

Can this be solved with a few simple loans? YES!

1. Waiting on Invoices to be paid- Factoring Capital
2. Hired extra employees- Line of Business Credit
3. Inventory Prices went up- Credit based Line of Credit
4. Recent Renovation- Line of Personal Credit

Need to upgrade your Equipment to meet orders? Equipment Financing is also an option.

Is your business and personal credit not great? There are loans for that also. All they are concerned about is if you have the sales to support the payments.

This 37% does not need to happen.

Another issue is the Banks.

Most Businesses go to their bank that they have their business account with to borrow money. The trouble with that is the big banks only lend to businesses that don’t actually need the money, especially now in the recession. To make things worse they take 6 weeks to give you an answer which could be NO! Businesses cannot wait 6 weeks for capital they need NOW!

Bounteous is here not only to get you the Money your business needs now but also to help cut your expenses. Have a free consultation and see if we can save you some money on credit card processing or software. Or better yet…upgrade your automation and get you more sales so you never have to borrow money again…unless you are expanding!

Look forward to chatting!

If you haven’t noticed, we are in a recession. They are trying not to make it as dramatic as the housing crash, but we are here. Business still goes on in a recession and the interesting part now is that people were trained to spend money during the pandemic. Consumers changed. They order far more take out than before. They buy far more online than ever.

Businesses are still going and trying to fill the needs of their clients. Banks however are hesitant to lend knowing salaries are not increasing with the rate inflation. They see the possible down turn of small businesses. They are looking out for themselves because the last big recession shut down a lot of banks.

Interestingly enough people are still buying and businesses are still going. Small businesses need Money! They need money to buy inventory, pay employees and much more. What will they do when the banks won’t lend? Or worse…make the business owner wait 6 long weeks and then tell him NO! The average time of 6 weeks is a very long time to wait for what you need right now.

An SBA loan from a bank takes on average 6 weeks to go through. Ask your bank. They will tell you. You can guess why. Private money is different. There are less middle men. There is less regulation and red tape with private money. It’s simple and quick. In some cases you can be funded in 1-2 days depending on the type of loan.

Now you understand why Banks won’t lend and if you have ever seen the movie Too Big to Fail they explain why the great depression happened. Yes it started with a stock market crash but it continued so long because a disruption of credit. It is happening now. Paul Giamatti played Ben Bernanke. The famous little clip talked about this disruption in lending being the biggest problem for business owners and for regular people.

Don’t let a No at your bank stop your business. Email Bounteous today. Get the $$$$$ you need Now!

Email us with any questions. admin @ bounteouscapital.com

We are here to help!